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Updated over 6 years ago on . Most recent reply
HUD "reverse mortgage" listing buys?
HUD Guidelines 24 CRF 206.125 applies to the sale of Reverse Mortgage Foreclosures. The stipulations state that "Property cannot be sold below appraised value (LIST PRICE)." Can anyone familiar with this HUD product advise me as to whether it would be worth submitting a below list price offer anyway, or will HUD stick to their guns?
Thanks for any knowledgeable replies!
Most Popular Reply
Originally posted by @Lynn DeShazo:
HUD Guidelines 24 CRF 206.125 applies to the sale of Reverse Mortgage Foreclosures. The stipulations state that "Property cannot be sold below appraised value (LIST PRICE)." Can anyone familiar with this HUD product advise me as to whether it would be worth submitting a below list price offer anyway, or will HUD stick to their guns?
Thanks for any knowledgeable replies!
If they are citing a law, that probably means they have zero flexibility.